System and method for monitoring events associated with a person or property

ABSTRACT

A system and method for retrieving a transaction associated with a property including obtaining property information pertaining to a property from a third party source, storing the property information in a database, receiving a name to monitor or an address of a property to monitor, and transmitting a property information request including the name and/or address to the database. The system and method may also include searching the property information for a match with the name or address, identifying a transaction associated with the matched name or address and transmitting the transaction to a device.

CROSS REFERENCE TO RELATED APPLICATIONS

This application is a Continuation of and is based upon and claims thebenefit of priority under 35 U.S.C. §120 for U.S. Ser. No. 12/780,247filed May 14, 2010, which is a Continuation of U.S. Ser. No. 11/677,535,filed Feb. 21, 2007, the entire contents of each which are incorporatedherein by reference.

CLAIM OF PRIORITY UNDER 35 U.S.C. §119

The present application for patent claims priority to ProvisionalApplication No. 60/775,841, filed on Feb. 22, 2006, and assigned to theassignee hereof and hereby expressly incorporated by reference herein.

FIELD

The invention relates generally to a system and method for monitoringevents associated with a person or property. More specifically, theinvention relates to a system and method for detecting when a thirdparty associates a transaction with a person's name or property.

BACKGROUND

Fraud has been a big concern of businesses, individuals, and lawenforcement officials. Many innocent citizens and companies haveunfortunately been the victim of bad acts performed by one or moreunscrupulous individuals. One area where fraud initially goes undetectedis when it relates to a person's name or property. This is because aperson or property owner may not know that someone has placed (or failedto remove) a “cloud” on their name or property until several months oryears after it has occurred. For example, a third party may record orfile a transaction associated with that person's name or propertywithout their knowledge. The person or property owner will not knowabout the transaction until that person checks his/her own credit ortries to sell the property. Some examples of transactions include thefailure to record or properly record mortgage satisfactions and thefiling or recording of unknown or fraudulent documents, such asmechanic's liens, judgments, or other miscellaneous liens, against aperson's name or property. These transactions can create a “cloud” onthe person's name or property.

Significant consequences can result when a “cloud” is placed on theperson's name or property. For example, the person may be subject tocostly and time consuming legal issues, the person's credit worthinessor FICO score may be lowered, the person's property may be seized orsold, the property owner may be subject to higher interest rates forfinancing, and the property owner may have difficulty in purchasingother properties or selling the subject property. In extreme conditions,because of protracted issues, a deal may “fall out,” resulting in theseller having to find another buyer altogether. Therefore, there existsa need in the art for a system and method for monitoring events ortransactions associated with a person or property.

SUMMARY OF THE INVENTION

The invention may be used to monitor events associated with a person ora property. More specifically, the invention may be used to detect whena third party associates a transaction with a person's name or property.The transaction may involve, for example, the filing or recording of adocument, or the failure to file or record a document.

A system and method for monitoring transactions associated with a personor a property may include the steps of storing (and continuously,periodically or randomly updating) information pertaining to a person ora property in a database, receiving subscriber information including aname to monitor or a property address to monitor, continuously orperiodically searching the database for the name or the propertyaddress, identifying a transaction associated with the name or theproperty address, and transmitting the transaction (via email address orother mediums) to the affected person(s).

A system and method for retrieving a transaction associated with aproperty may include the steps of obtaining property informationpertaining to a property from a third party source, storing the propertyinformation in a database, receiving an address of a property tomonitor, and transmitting a search request including the address to thedatabase. The system and method may also include the steps of searchingthe database for a match with the address, retrieving a transactionassociated with the matched property address and transmitting thetransaction via various medium to the affected person(s).

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a simplified block diagram of a system for monitoring eventsor transactions associated with a person or property according to anembodiment of the invention.

FIGS. 2A and 2B is a flow chart of a method for monitoring events,transactions or conditions associated with a person or propertyaccording to an embodiment of the invention.

DETAILED DESCRIPTION

Systems and methods that implement the embodiments of the variousfeatures of the invention will now be described with reference to thedrawings. The drawings and the associated descriptions are provided toillustrate embodiments of the invention and not to limit the scope ofthe invention. Reference in the specification to “one embodiment” or “anembodiment” is intended to indicate that a particular feature,structure, or characteristic described in connection with the embodimentis included in at least an embodiment of the invention. The appearancesof the phrase “in one embodiment” or “an embodiment” in various placesin the specification are not necessarily all referring to the sameembodiment. Throughout the drawings, reference numbers are re-used toindicate correspondence between referenced elements. In addition, thefirst digit of each reference number indicates the figure in which theelement first appears.

FIG. 1 is a simplified block diagram of a system 100 for monitoringevents or transactions associated with a person or property according toan embodiment of the invention. The system 100 is an exemplary systemused to implement the methods of the invention. The system 100 can beimplemented in hardware, software, or a combination of hardware andsoftware. The system 100 can include more or less elements as shown inFIG. 1. The invention provides systems and methods for monitoring eventsor transactions associated with a person or property. Also, theinvention provides systems and methods for detecting when a third partyassociates (or fails to associate) a transaction with a person's name orproperty.

The system 100 may include a server 102, a subscriber database 104, atransaction database 106, a server 108, a property information database110, a person information database 112, and a subscriber device 114. Theserver 102 and the server 108 may be a single server or may be more thanthe two servers shown. The servers 102 and 108 may be one or moreservers or computers or any other device capable of electronicallytransmitting, searching and/or receiving information. Also, thedatabases can be combined into one or more databases.

The server 102 maybe used to input or receive subscriber informationincluding a person's name or a property address, automatically,continuously, periodically and/or randomly transmit requests to theserver 108 (or database 110 and/or database 112) for informationpertaining to the person or the property, identify information (e.g.,transactions) in the property information database 110 and/or the personinformation database 112 pertaining to the person or the property, andsend a notification (e.g., an email or a fax) to the subscriber device114. After the transaction has been identified, the notification may beautomatically sent from the server 102 to the subscriber device 114using push technology such as email, facsimile, phone or other means.

The subscriber database 104 stores a list of subscribers for themonitoring and notification service. The subscriber may be a person,business, property owner, deed holder, title holder, or any person orentity seeking to obtain information about a person, business orproperty. The list may include the subscriber's name, address, emailaddress, fax number, home phone number, business phone number, cellularphone number, preferred way to contact the subscriber (e.g., via email)as well as other information pertaining to the subscriber.

The transaction database 106 stores a list of transactions (orconditions) and a corresponding degree of seriousness rating. Thetransaction database 106 may also store a list of potential actions theperson or the property owner may wish to take to remedy the threat(i.e., add, remove or correct the transaction or condition).

In general, the transaction or condition may be something (or failure todo something) that affects a person's or subscriber's name or property.The transactions (or conditions) may be documents that include all formsof encumbrances, fraud, or other legitimate or illegitimate actions thatmay compromise a subscriber's credit worthiness (e.g., FICO score),reputation, property, ownership interest and financial position. Thetransaction (or condition) may involve, for example, filing or recordinga document for a particular property, or failure to file or record adocument against a particular property, or recording or failing torecord a document which relates to a mortgage secured by a particularproperty or which relates to a particular name or FICO score. Forexample, when a new mortgage is recorded, it is often expected that arelease of the previous mortgage would also be recorded. If asatisfaction and release of the previous mortgage is not recorded, thisamounts to a condition which could lead to important consequences forthe subscriber.

The server 108 may be used to receive subscriber information including aperson's name or a property address, search the property informationdatabase 110 and/or the person information database 112 for the person'sname or the property address, if the person's name or property has beenfound, request and/or retrieve one or more transactions related to theperson's name or property, and transmit the transaction information tothe server 102 or the subscriber device 114.

The property information database 110 and/or the person informationdatabase 112 may include a list of owner names and/or properties and alist of corresponding transactions that have been filed or recordedagainst the person and/or property. For example, if the property addressis 500 Bristol Avenue, and an encumbrance or lien of any kind (e.g.,financing document, pre-foreclosure document, deed, mortgage,assignment, release, judgment, or state or federal tax lien) wasrecorded on Jan. 1, 2006, then the transaction will be the lien recordedon Jan. 1, 2006. In another example, if the property at 700 BristolAvenue was sold on Jan. 10, 2006, but the sale was not recorded, thenthe transaction will refer to the last transaction, which may state:“sale recorded on Dec. 10, 1990.” This indicates that the sale on Jan.10, 2006 has not been recorded.

The property information database 110 may contain all filed and/orrecorded documents for all the subscriber's properties. The personinformation database 112 may contain all filed and/or recorded documentsfor all the subscribers. In one embodiment, the property informationdatabase 110 and the person information database 112 may be the samedatabase, may be located in a central location and may retrievesubscriber information from one or more county offices 116, creditreporting offices, locations or resources. For example, various countyoffices 116 and credit reporting services may receive requests from theserver 108 to update the personal information or property informationfor a particular subscriber. The various county offices 116 and creditreporting services may transmit the information to the server 108 viathe Internet, facsimile, telephone, email, etc. In one embodiment, theserver 108 automatically receives information (e.g., filed and recordedreal estates transactions) pertaining to a subscriber on an hourly or adaily basis from one or more county recorder offices 116. Theinformation may be electronically sent via the Internet from the variouscounty recorder offices 116 to the server 108. The information may bestored on the property information database 110 and/or the personinformation database 112. In one embodiment, a database administratorreceives the call or facsimile from the various county recorder offices116 and inputs the information for storage in the property informationdatabase 110 and/or the person information database 112.

The subscriber device 114 may be a handheld device (e.g., a cellularphone, PDA, BlackBerry or Palm), a laptop computer, a desktop computer,a server or any other device capable of allowing a user to viewinformation.

FIGS. 2A and 2B is a flow chart 200 of a method for monitoring events,transactions or conditions associated with a person or propertyaccording to an embodiment of the invention. At step 202, informationpertaining to a person or a property is documented, lodged or recordedby a third party (e.g., a county recorder office, a credit reportingservice, etc.) using the server 108 or at the county offices 116. Thecounty clerk may use its own server or the server 108 to input or scanin the information. The information may be sent to the server 108 forstorage in the property information database 110 and/or the personinformation database 112. For example, the county recorder's office mayuse its own computer to input the information and then send it to theserver 108 for storage in the property information database 110 when newinformation for a particular property in its county is filed or recordedat its office. The information may be updated hourly, daily or weekly.

The server 102 may be used to input the subscriber's information intothe subscriber database 104 (step 204). In one embodiment, thesubscriber pays a monthly fee or a use-based service fee to receivenotifications about events, transactions or conditions that have beenfiled or recorded against the subscriber's name or property. Using agraphical user interface, the subscriber may request or select one ormore transactions to monitor (step 206). For example, the subscriber mayselect to monitor filed or recorded transactions associated with aperson's name or property, transactions that should have been filed orrecorded (i.e., missing transactions), property sales within a specifiedarea (e.g., 10 mile radius), property (e.g., home) values within aspecified area, whether property taxes have been paid for a particularproperty, and an aerial map of the property with parcel and street mapoverlays. The subscriber may also monitor all transactions associatedwith a person or property.

If the subscriber is aware of a specific transaction related to a personor property, the subscriber may input this information as a transaction.For example, if the subscriber refinances his/her property, thesubscriber can input the transaction as “a refinance on Jan. 25, 2006.”This transaction may be stored in the subscriber database 104 and may besent to the server 108 and may be stored in the property informationdatabase 110. Based on the transaction, the server 108 searches theproperty information database 110 and/or the person information database112 for a related transaction. The searches for the related transactioncan be performed daily for 90 or 180 days after the transaction hasoccurred. If the related transaction is not found, the server 108notifies the subscriber that a transaction is missing. For example, ifthe subscriber refinances a property (transaction), the server 108 knowsthat the refinancing documents (i.e., new mortgage) should be recorded(related transaction) within, for example, 90 days. The server 108periodically checks the property information database 110 for therecordation. If the recordation does not occur within the specified timeperiod, the server 108 notifies the subscriber that the refinancing hasnot been recorded. In addition, the server 108 knows that therecordation of the refinancing documents also requires the recordationof a satisfaction and release of the old mortgage. That is, when a newmortgage is recorded, it is often expected that a release of theprevious mortgage would also be recorded. Hence, if any of thesedocuments are not recorded, the subscriber is notified of all missingtransactions.

For each subscriber, the server 102 automatically sends a search requestfor information to the server 108 (step 208). The request includes thename or property and the desired information (e.g., filed or recordedtransactions). The requests can be made hourly, daily or weekly. Theserver 102 may request information for all its subscribers.

The server 108 retrieves the requested information from the propertyinformation database 110 or the person information database 112 (step210). In one embodiment, the server 108 searches the propertyinformation database 110 for the property identified in the request andthe person information database 112 for the person identified in therequest.

The server 102 receives the requested information from the server 108.In one embodiment, the server 102 compares the requested informationwith the list of transactions (or conditions) in the transactiondatabase 106 for a match (step 212). If a match is found, the server 102may retrieve a degree of seriousness rating corresponding to the matchedentry in the list of transactions (step 214). If a match is not found,the server 102 may assign a default rating (e.g., high) to the requestedinformation (step 216). In one embodiment, the degree ratings can behigh, medium and low. The server 102 creates an email with the requestedinformation and the degree of seriousness rating (step 218) and sendsthe email to the subscriber device 114 (step 220). In one embodiment,the email may include one or more links to the requested information andthe degree of seriousness rating.

In describing embodiments of the invention illustrated in the drawings,specific terminology is employed for the sake of clarity. However, theinvention is not intended to be limited to the specific terminology soselected, and it is to be understood that each specific element includesall technical equivalents which operate in a similar manner.Furthermore, the inventor recognizes that newly-developed technologiesnot now known may also be substituted for the described parts and stillnot depart from the scope of the invention.

Portions of the invention may be conveniently implemented using one ormore conventional general purpose or a specialized digital computer ormicroprocessors programmed according to the teachings of the presentdisclosure, as will be apparent to those skilled in the computer art.Appropriate software coding can readily be prepared by skilledprogrammers based upon the teachings of this disclosure, as will beapparent to those skilled in the software art. All or portions of theinvention may also be implemented by the preparation ofapplication-specific integrated circuits or by interconnecting anappropriate network of conventional component circuits, as will bereadily apparent to those skilled in the art based upon the thisdisclosure.

The invention includes at least one computer program product which is ina storage medium (media) having instructions stored thereon/in which canbe used to control, or cause, a computer to perform any of the processesof the invention. The storage medium can include, but is not limited to,any type of disk including floppy disks, mini disks (MDs), opticaldiscs, DVD, CD-ROMs, microdrive, and magneto-optical disks, ROMs, RAMs,EPROMs, EEPROMs, DRAMs, VRAMs, flash memory devices (including flashcards), magnetic or optical cards, nanosystems (including molecularmemory ICs), RAID devices, remote data storage/archive/warehousing, orany type of media or device suitable for storing instructions and/ordata.

Stored on anyone of the computer-readable medium (media), the inventionincludes software for controlling both the hardware of the generalpurpose/specialized computer or microprocessor, and for enabling thecomputer or microprocessor to interact with the human user or othermechanism utilizing the results of the invention. Such software mayinclude, but is not limited to, device drivers, operating systems, anduser applications. Data used by the software may be retrieved fromdifferent sources (local or remote) and either permanently ortemporarily stored (before, during or after processing) by utilizing anyof the text files, delimited files, database(s), or other storagetechniques. Ultimately, such computer-readable media further includessoftware for performing the invention, as described above.

Included in the programming (software) of the general/specializedcomputer(s) or microprocessor(s) are software modules for implementingthe teachings of the invention, including, but not limited to, uploadingproperty data requests to a database, using a mobile device to downloadthose property data requests, inputting property data into the mobiledevice, uploading property data to another database, software used toreview the property data for errors, and providing that property data tothe subscriber. Obviously, numerous modifications and variations of theinvention are possible in light of the above teachings. It is thereforeto be understood that within the scope of the appended claims, theinvention may be practiced otherwise than as specifically describedherein.

1. A non-transitory computer storage medium having instructions thatwhen executed by a computer perform a method of monitoring transactionsassociated with a person's real property, comprising the steps of:storing information in a database pertaining to a public recordtransaction affecting the real property, receiving from a subscriber andstoring in the database subscriber information, said subscriberinformation including a property address of the real property tomonitor; iteratively monitoring the database by a processor-implementedsearch process for an occurrence of the property address stored in thedatabase to find a first match; and identifying via a processor anindication of the public record transaction stored in the databaseassociated with the property address and the first match.
 2. Thecomputer storage medium of claim 1, further comprising: sending arequest for information about a name of the real property owner to thedatabase.
 3. The computer storage medium of claim 1, further comprising:comparing the indication of the public record transaction to a list oftransactions to find a second match, the list of transactions include aplurality of public record transaction types and a degree of seriousnessrating corresponding to each of the plurality of public recordtransactions; and retrieving a degree of seriousness ratingcorresponding to the second match in the list of transactions, whereinthe degree of seriousness rating being selected from a group havingleast three gradations of seriousness.
 4. The computer storage medium ofclaim 1, wherein the public record transaction is a tax lien.
 5. Thecomputer storage medium of claim 1, wherein the public recordtransaction is a lien against the real property, and the lien having aproperty address associated with the real property.
 6. The computerstorage medium of claim 1, further comprising: comparing the indicationof the public record transaction with a list of transactions to find asecond match, the list of transactions including a plurality of publicrecord transaction types and a remedy associated with each of theplurality of public record transaction types; and retrieving the remedycorresponding to the second match in the list of transactions, whereinthe remedy is selected from a group of remedies including an adding of asubsequent transaction remedy associated with a first transaction type,a correction of the transaction remedy associated with a secondtransaction type, and a removal of the transaction remedy associatedwith a third transaction type, wherein the plurality of public recordtransaction types include the first transaction type the secondtransaction type, and the third transaction type.
 7. The computerstorage medium of claim 3, further comprising assigning a default degreeof seriousness rating to the public record transaction after the secondmatch for the public record transaction is not found in the list oftransactions.
 8. A non-transitory computer storage medium havinginstructions that when executed by a computer perform a method ofretrieving an information regarding a tax lien associated with aproperty, comprising the steps of: obtaining property informationpertaining to a property from a third party source; storing the propertyinformation in a database; receiving an address of the property tomonitor; transmitting a property information request including theaddress to the database; iteratively searching with a processor theproperty information for a first match with the address; retrievinginformation regarding a tax lien associated with the first match;comparing the tax lien with a list of tax liens for a second match;retrieving a degree of seriousness rating corresponding to the secondmatch in the list of tax liens; and transmitting the tax lien to adevice to notify a property owner of the tax lien related to theirproperty, wherein the degree of seriousness rating being selected from agroup having at least three gradations of seriousness.
 9. The computerstorage medium of claim 8, further comprising the step of comparing thetax lien to a list of tax liens for a second match and retrieving aremedy corresponding to the second match in the list of tax liens. 10.The computer storage medium of claim 8, further comprising the step ofassigning a default degree of seriousness rating to the transactionafter the second match cannot be found in the list of tax liens.
 11. Anon-transitory computer storage medium having instructions that whenexecuted by a computer perform a method of monitoring an absence of atax lien associated with a person's real property comprising the stepsof: storing information pertaining to the real property in a database;receiving a request from a subscriber to monitor for the tax lien, therequest including a property address associated with the public recordtransaction, the request including a datum transaction associated withthe tax lien; iteratively monitoring the database with a processor forthe tax lien; and transmitting a notification to a device if the taxlien has not occurred within a predetermined time period relative to thedatum transaction.
 12. A computer-based method of monitoring a databasefor an occurrence of a lien event, comprising: extracting loan data froma client loan portfolio; defining the lien event relatable to the loandata by one or more lien-related criterion; iteratively monitoring witha processor for an occurrence of the lien event; and notifying a clientof the occurrence of the lien event.
 13. The method of claim 12, whereinthe loan data comprises borrower identification data, property data, orcombinations thereof.
 14. The method of claim 12, wherein the lien eventbeing a tax lien.
 15. The method of claim 14, wherein the lien eventdatabase comprises a public record database, a credit reportingdatabase, or combinations thereof, and wherein the lien event databaseis updated periodically to reflect changes pertinent to the loan data.16. The method of claim 12, wherein the notifying comprises: generatinga report that records the occurrence of the lien event.
 17. Acomputer-based method of monitoring a database for an occurrence of alien event relatable to a property, comprising: receiving, using aprocessor, loan data from a client loan portfolio and one or morelien-related criterion from a client; automatically iterativelymonitoring, using the processor, the database for lien events defined bythe one or more lien-relatable criterion; generating, using the process,a lien event report based on the automatically monitoring; and storing,using a memory, the lien event report.